Teachers Retirement System of The State of Kentucky Sells 1,204 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Teachers Retirement System of The State of Kentucky reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 101,900 shares of the company’s stock after selling 1,204 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in PepsiCo were worth $15,495,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Howard Capital Management Group LLC boosted its holdings in shares of PepsiCo by 2.0% during the 3rd quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock valued at $777,000 after buying an additional 90 shares in the last quarter. Morse Asset Management Inc bought a new stake in PepsiCo during the third quarter worth about $996,000. Invst LLC grew its holdings in PepsiCo by 4.6% in the third quarter. Invst LLC now owns 3,003 shares of the company’s stock worth $511,000 after purchasing an additional 133 shares during the period. Virtu Financial LLC purchased a new position in shares of PepsiCo during the third quarter valued at approximately $1,611,000. Finally, Te Ahumairangi Investment Management Ltd boosted its position in shares of PepsiCo by 3.4% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 16,624 shares of the company’s stock worth $2,811,000 after purchasing an additional 550 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.8 %

Shares of PEP opened at $141.73 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 12-month low of $138.33 and a 12-month high of $183.41. The business’s 50 day moving average is $148.12 and its 200 day moving average is $154.56. The company has a market capitalization of $194.36 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 3.09 and a beta of 0.49.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. PepsiCo’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company posted $1.78 earnings per share. Research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Friday, March 7th. PepsiCo’s dividend payout ratio is presently 77.99%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PEP shares. JPMorgan Chase & Co. lifted their price objective on PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a research note on Monday. Citigroup decreased their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Piper Sandler started coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. BNP Paribas dropped their price objective on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada began coverage on shares of PepsiCo in a report on Tuesday, February 4th. They set a $172.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $167.76.

PepsiCo Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.